From The International Herald Tribune:
Walking the streets of Shanghai, it’s easy to see why investors’ appetite for all things Chinese is running so high.
As in so many boomtowns past and present, one can practically feel the energy. The sights, sounds and buzz of Shanghai make you wonder if Asia’s No. 2 economy is getting the credit or attention it deserves. If China reported 15 percent growth next quarter, you could find anecdotal evidence here to justify it.
Unfortunately, China’s growth rate of 9.4 percent is not reflected in its stock markets. Dodgy corporate dealings get most of the blame. The Shanghai Stock Exchange Composite index and the Shenzhen Stock Exchange Composite index are among the world’s 10 worst-performing equity markets this year.
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